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98  percent of the loans the Federal Housing Administration (FHA) insured between 1934 and 1962 went to white borrowers. The Veterans Administration and the FHA officially supported racial covenants banning African Americans in new suburban developments until refusing to underwrite loans that would bring 'incompatible' racial groups into newly created white areas.

What is a main similarity between an FHA and a VA mortgage?

One thing VA and FHA loans have in common is that both are available in a range of terms. Depending on your budget and needs, you can apply for a 30-year FHA loan or a 30-year VA loan. The mortgages are also available in 15-year or 10-year terms.

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